OlympusDAO wants to bring more utility to OHM, thanks to OIP 133

ambcrypto.com:

By putting out a new proposal, OlympusDAO is now working toward expanding the utility of its OHM token. With the community set to vote, here’s how key metrics have reacted to the proposal.

Read OlympusDAO (OHM) Price Prediction 2023-24

In a post on 8 March, OlympusDAO announced the launch of a new proposal. The proposal, tagged OIP 133, suggests three potential improvement options to the OHM token’s functionality.

The proposal aims to increase the utility of tokens in circulation and decrease the staking interest on the token. 

The first option entails issuing a single OHM bond at a fixed interest rate of 7.33%, with the stake rate gradually or instantly reduced to zero.

In option two, OHM’s staking rate isn’t up for reevaluation until after the completion of loan projects. The third option is a hybrid of the first two, which involves decreasing the staking rate over time as projects are completed.

While over 90% of OHM was staked, at press time, only around 60% of it was used for transactions other than staking.

The seven-day active address metric for OlympusDAO (OHM) per Santiment revealed that it had previously been declining.

Nonetheless, a clear upward trend has been developing since the beginning of March. With the uptrend, it was at its highest point in more than four months. There were about 899 active addresses as of this writing, a significant increase.

Source: Santiment

Although the price movement of OHM in March appeared to be flat, there were a few notable value decreases that were noticeable. Before March, however, there had been a mix of ups and downs, and the asset could not maintain its upward trends.

Source: TradingView

The coin was trading at about $51.7 and had lost more than 1.5% as of this writing